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, president obama raising eyebrows say we are not a deadbeat nation, but is he right? and as the debt ceiling comes closer, will the white house use the nuclear option? does he have the legal authority to do so? that's next. this is $100,000. we asked total strangers to watch it for us. thank you so much. i appreciate it. i'll be right back. they didn't take a dime. how much in fees does your bank take to watch your money? if your bank takes more money than a stranger, you need an ally. ally bank. your money needs an ally. ♪ gerri: is another credit downgrade coming? fitch warning today they will downgrade the u.s. triple-a-rated give the debt ceiling is not raised. with more of possible economic fallout, moody's chief economist. all right. if they do this, what happens to the economy, the stock market? >> well, i would think that financial markets have had enough warning of a possible downgrade of the u.s. aaa credit rating by an agency other than s&p, and thus perhaps it would not have that damaging impact. the downgrade was not especially g. that being said there will be a negative psych
the president did likely to win this one. he'll say what he needs to do before the debt ceiling comes up for a vote. >> clearly a lot of confusion about that. cuba's new law easing travel restrictions began today pechl are taking advantage of it. >> they stood in long lines outside travel agencies and the u.s. interest section.g1u in havana. animalla lifts do not expect a mass exodus but they have questions in recent weeks. >> bee jirngs china facing an air quality emergency. look at the pictures. 62q calling pollution there hazardous saying this is the worst it's been in china. residents saygjhr there is a burning smell in the air smrks highways are closed and flights, cancelled. pollution blamed on the rapid inr industrial growth. and a rise in car ownership. just to give you an idea of how bad it is, the air pollution indmechl beijing is at 755. now, anything over a scale of 300 is considered an emergency. by comparison the scale in the united states doesn't go over 500. >> royal baby news, duke and duchess's baby expected in ju. a spokesman for the palace says her condition is contin
as my first term comes to an end. >> brown: the questions were dominated by the looming debt ceiling fight. the president sternly warned republicans not to balk at raising the nation's borrowing limit. >> they will not collect a ransom in exchange for not crashing the american economy. the financial well being of the american people is not leverage to be used. the full faith and credit of the united states of america is not a bargaining chip. and they better choose quickly because time is running short. >> brown: congress has until march to raise the debt ceiling and prevent a government default. most republicans have insisted that with the government facing another trillion dollar deficit this year, any increase in borrowing authority must be tied to cuts in spending. the president flatly disagreed. >> i want to be clear about this. the debt ceiling is not a question of authorizing more spending. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with this congress about whether or not they should pay the b
, this automatic spending cuts that are due about the same time that the debt ceiling comes up or about the budget overall. that's not picking up any response from the republicans? >> it is. i mean, i d't think republicans have settled on a legislative centrality gee yet. which is part of their problem at this point. they haven't settled how they'll deal with these issues either in one pot which would seemingly make it easier for president obama to negotiate or whether they'll separate them out and deal with them individually over the next couple months. they're heading to a retreat in williams burg, virginia, this week. where they'll take the's of their membership and figure that out. >> woodruff: very quickly, carol, at the end we know that the president commented on his governing style. the fact he doesn't do a lot of reaching out to republicans. the white house doesn't have a sense that this is a liability in anyway? >> clearly not. like he said, he's a nice guy. he hangs out with these members of congress when he can. it's just not his style. frankly in his view he said he played golf with jo
. coming gap, president of bond -- obama demanding part congress dr jobs and raise the debt ceiling. slip in the showers. lawsuits by prison inmates causing taxpayers more than $100 million. i'll break it down next. ♪ gerri: taxpayers on the hook for more than $100 million thanks to lawsuits from prison gerri: here at "the willis report" we bring you the stories of government abuse of our taxpayer dollars every day. today we have a doozy. they say crime pays and, boy, does it. inmates held at rikers island here in new york been suing the city for injuries they say they received in jail. now, some say they slipped on suppleness shower while others say the beds were too short and injured them. i kid you not. one fellow has been locked up in rikers since 2009 for apparently firing on to new york police department cops. he says a stop up rain in the shower cost of defaults. he says the city is at fault for not putting down rubber mats or those big orange hazard comes. people familiar with the sec in order prisoners share names of lawyers, even putting attorney contact information year jail
, the other congressionally imposed deadline coming up is the so-called debt ceiling, something most americans hadn't even heard of before two years ago. so i want to be clear about this. the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. >> and of course republicans tried to trick americans into believing the debt ceiling was a blank check or magic credit card for the president to go spend whatever he wanted to spend. of course, the united states constitution gives the power to tax and spend to the congress, and the congress alone. our current deficit is the result of money congress has already borrowed. president obama explained to the american people today how republicans in congress are trying to avoid doing their actual jobs. >> these are bills that have already been racked up. and we need to pay them. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate w
talk-show host, president obama demanding congress raised the debt ceiling. when we come back we will be telling you about the lawmakers who he has informed he will miss his own budget deadline. it is actually a legal deadline, but you know, that is a minor technicality for the salmon restoration. the "a-team" takes up that technicality and more next. stay with us. ♪ lou: let's get to the "a-team" right now. former congressional candidate, fox news contributor. thank you for being here. let's start with the president saying that the issue here is not the second amendment. it's about taking away. what is the deal. why is he not being straightforward? >> because he is president obama, and that is who he is. i saw the rev. earlier talking about the moderator. he blamed the shows. chicago is the murder capital of the world, and the fact is a dove -- does have tough gun laws. the hollies, game makers, they're not going to the gun shows. lou: mentioned why the president has not even mentions the awful murder rate in chicago? much of it very near the neighborhood in which she worked f
debt ceiling, which will come into play. so we will be seeing a lot of activity in the next few months, debates about people criticize the government, about the size of the deficit, and it a lot of back and forth over these three issues. without going into all the different ramifications, i want to say one word about the debt ceiling, which is not everybody understands what the debt ceiling is about. the debt ceiling -- raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it does not create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit ratings and i know how we can save money, we will not pay our credit card bills. not the most effective way to improve your credit rating. it was a very slow solution to the debt ceiling in august of 2011 that got the u.s. downgraded last time. so it's very important. all these issues are important, but it's very, very important that congress take necessary action to raise the debt ceiling
these people, you know, they don't want to approve a debt ceiling, didn't come here to approve it and before they'll do it, they have to do something that lets them get that energy out of their system. >> and unfortunately, that might be the best strategy that he actually has, but you know, overall in terms of the president's and democrats' approach, i think the president did a wonderful job and the democrats got a good deal in the fiscal cliff deal and the president's negotiating strategy of not negotiating on the debt ceiling has really put republicans in the corner where they're sort of backing away and saying maybe we can go in another direction but one thing i'm concerned about is when i look back at 2010 and the big losses that democrats sustained there, part of the reason was because we ceded the debate to the republicans and allowed them to frame the conversation around the debt and the deficit and if you look at gallup polling, you can see that the debt and the deficit and government dissatisfaction with government which is another strong place for republicans to fight on are rising
that is a laggard. hewlett-packard, american express, a few of the names coming under the pressure. the debt ceiling remains in focus. it is earning season. let's take a look at facebook. it is up about three quarters of 1%. it certainly has gained over the last half hour. we are getting closer and closer to the launch time. come and see what we are building. there is speculation that remains. the anticipation remains. dagen: trying to strategize on how to rein in government spending. connell: rich edson with all the details. rich: a very busy legislative day. they are dealing with this handy appropriation bill. republicans are discussing a number of different options. there is a major house republicans of that. their annual retreat takes place on wednesday. >> when does this budget balance? here is when the budget gets to balance if we adhere to these cuts. rich: republicans trying to figure out their opening position on the debt ceiling. democrats and the white house have already come out with theirs. president obama saying that he is not negotiating it. he says he is willing to talk about deficit
to raise the debt ceiling. >> we made a mistake when we increased the debt limit the first time and gave this guy all the money to buy votes with. we shouldn't make the mistake now. >> this thinking is not only inaccurate but dangerous. >> this is a guy walking into a crowded room and saying i have a bomb strapped to my chest. and if you don't give me what i want, i'm going to blow up everybody, including myself. is that a credible threat? well, there are some pretty crazy people there. it might be that they're willing to do it. but by the same token, obama cannot give into this. >> fortunately, president obama showed no signs of giving in today. >> what i will not do is to have that negotiation with a gun at the head of the american people. the threat that unless we get our way, unless you gut medicare or medicaid, or otherwise slash things that the american people don't believe should be slashed, that we're going to threaten to wreck the entire economy. >> or to put it more simply. >> the issue here is whether or not america pays its bills. we are not a deadbeat nation. >> republicans,
of these earnings coming out from the banks this week as ahead of that debt ceiling debate? >> sure, maria. our equity portfolios are fully invested. we see no reason 2013 can't deliver very similar returns as 2012 did. the fact is we still have a good fundamental backdrop. the economy is expanding. it's not contracting or growing. value sheets are strong and valuations are very attractive so what is there not to like? >> you're our resident skeptic today, and i would point not to the normal averages that we quote every day, but look at the dow transportation average which could close at an all-time high today. the transportation companies, often a leading indicator for the economy. if they are doing well. chances are the economy is going to get better. wouldn't that make you want to buy stocks right now. >> it does. we're not -- we're actually a little bit more bullish, esespecially the first six months of the year. we still are expecting slow growth, commodities where we're shorting assets, but in terms of u.s. and in terms of international, we do expect growth, and we are excited about what'
the doomsday scenarios were bad under the fiscal cliff, just wait for what's coming next. >> the debt ceiling talks are under way. president obama warns the dire consequences if congress fails to raise our borrowing limits. in tonight's reality check, sam brock explains why most people should just take a deep breath. sam? >> raj, it would be therapeutic if nothing else. there is certainly little refuting the failure to raise the debt ceiling would send shock waves through the economy both national and global. that being said, president obama only fanned the flames today painting a picture of government catastrophe based on the facts seems a bit trumped up. >> ladies and gentlemen, the president of the united states. >> reporter: in the first press conference of his second term, president obama wasted little time scaring the day lights out of millions of americans who rely on government paychecks for one service or another, of the consequences of a u.s. default. >> may not be able to pay our troops or honor our contracts with small business owners. food inspectors, air traffic controllers, spe
low. that's where the complacency comes from. you see it there. as we move into the debt ceiling debate, it can be far harder to solve than the taxes, we think the market can be down for a while, and before it comes back up. >> so you're looking for a decline, and perhaps that is an entry point for some. do you agree with that? >> i think any decline is an opportunity to buy, maria. i'm very, very bullish on u.s. equities and one of the main reasons i am the u.s. energy story which i think is a story that's not being told as well as it should be. in 2012 the u.s. oil production was up 16%. that was the biggest year over year increase in u.s. oil production since 18 at which just happens to be when we started producing oil so if we think about what's going on. we have right now -- right now we produce oil at 80%, the same price the rest of the world does. we produce natural gas at 25% of the price the rest of the world does. we have cheap energy here in the united states and we feel that will drive manufacturing back to the united states, create jobs, and when all this political s
and see what happens. >> bill: when it comes to the debt ceiling as the president pointed out yesterday over and over and over again because he kept getting asked the same question at the news conference, raising the debt ceiling does not say we are increasing spending. in any way whatsoever. it does not mean spending. what it means is -- congress authorizes spending. they demand spending on defense or on whatever the program happens to be. a new war. a new tax cut for the rich. they demand the spending. and then they have to -- it comes time to pay the bills. raising the debt ceiling means we agree we're going to pay the bills that congress has already spent. right? we're going to pay for the stuff that congress has already bought. as a president i thought it was an excellent analogy yesterday. you don't go to a restaurant and order a fine meal and then say i'm going to start cutting back right now. i'm not going to pay for that meal. you already ate it, babe! right? >> that's right. how fiscally conservative for them to say we're not going to pay that. let's just clear up this false e
reckless to continue raising the debt ceiling without having democrats come forth with a budget and the president of the united states coming forward with a plan to save medicare, medicaid and social security. we had irs skin bow er sk erskine bowles on. and steve rattner agrees and good democrats agree medicare and medicaid are going to bankrupt us. this president is doing absolutely nothing at all! nothing at all to save us from the debt crisis. >> in fairness, that's two separate conversation, the debt ceiling versus how we balance the two programs, i should say create reforms there so we can create new savings. you know as well as i do, the debt ceiling, they ran these bills up a long time ago. whether they should have or not and whether the president should be more responsible in this conversation, i would agree with you. to reduce the debt ceiling, we talked to businesses outside of new york, if we don't raise the debt ceiling, it's a potential, reality for wrecking -- >> that's the wrong time. >> the debt ceiling is the wrong time to do it. >> saying you can't do it with
the spending problem to go unresolved. the concern is that if congress fails to act on the debt ceiling, the national economy could dip and that could likely have and i affect on california's budget numbers. >> the risk to our forecast numbers could come next month and that's what the federal government chooses to do or not to do regarding the debt ceiling. >> the budget released by governor jerry brown showed a budget surplus for the first time in many years. >>> right now it is 4:44 let's check in with sal on an early morning report on traffic. >>> good morning everybody, it is chilly, let's take a look at traffic on 880 westbound as you head to the mcarthur maze. if you are driving there, it is cold but visibility is good if you could think of the silverling. for most of the area, the bay bridge toll plaza looks good. if you are driving in downtown san jose it looks nice. 4:45 let's go to steve. >>> another cold one out there, i tell you this is a long stretch, 1990, 1997 and we had some very cold weather. it is really only two days. cold frosty conditions, there is frost and freeze
have a question about this debt ceiling thing. how come nobody talks about the pay for the congressmen and senator. i have called several times to people like cantor and boehner and asking how much does it cost just to turn on the lights there and you guys to sit in the chair and say nothing. >> stephanie: right. there you go. if you want to cut the useless fat, cut their salaries, but not jan schakowsky. >> yeah, he is awesome. [♪ "world news tonight" theme ♪] >> stephanie: jim, glen beck is planning to construct a self sustaining libertarian camp in texas to the tune of $2 billion. >> it's like two time share companies sitting across the hall from each other -- isn't there one in idaho? >> stephanie: they have an amphitheater. >> how will they agree on anything? >> anarchy. >> i want what i want right now, and you -- >> stephanie: no traffic lights nothing. just go! go! whatever you want. >> no water. no roads. >> stephanie: no. he is planning to construct a self sustaining libertarian community. he dubs it independence park. it will be styled a
when it comes to the debt ceiling. here's the president. >> but they will not collect ransom in exchange for not crashing the american economy. the financial well being of the american people is not leverage to be used. the full faith and credit of the united states of america is not a bargaining chip. >> and that's yesterday's last press conference of the presidential term. newt gingrich of all people reacted by saying the president was bullying republicans. that's a long way from saying he's weak. now he's a bully. let's watch. >> i don't think we should pick fights where we are in a position that we can't, in fact, in the end enforce our will. we have no evidence that barack obama's going to compromise. i think this president is deliberately seeking confrontation and is going out of his way to bully house republicans. >> we'll see. winston churchill once said when people like newt hung around in politics after they were defeated, we more disappearages. i wonder my thought about this guy. why he's still on television. anyway, newt gingrich said the president's a bully. your
that he will not enter into any negotiations when it comes to the debt ceiling. that whole episode yesterday prompted some criticism from kirstin powers last night. take a look. >> i thought his tone was very petulant and acting annoyed that people were asking him questions. and they were actually doing follow-up questions which they normally don't all do. and that was good. they were pressing him on the things. he was being asked about his house vote that you just referred to and i think he didn't do a great job of explaining the situation, because i think that this back and forth that is going on about whether we're going to default or not isn't really the point. martha: so here is major garrett, as he presented the president as kirstin just referenced on his prior voting record on debt ceilings. take a look at this exchange. >> what chuck and i and many people are curious about is this new adamant deviewer on your part not to negotiate when that seems to conflict with modern presidents on the debt ceiling and your own history on the debt ceiling. >> getting votes for the debt ce
voted against the debt ceiling too. now, how does obama come away with that kind of history and accuse the republicans of shutting down the government and demonizing them? how does he do that? >> well, i think there's a long history of partisan hypocrisy and deal making on this deal. what we see obama doing is trying to take control of that political fight so that those who would get political advantage by say voting against raising the debt ceiling which tends to be popular. people -- you know, the american public, they hear debt ceiling and they think no, let's not do that. that sounds awful to give government more money to spend. he's trying to turn it around. but it absolutely is a dynamic that he exemplploited when he w senator. >> robert costa, let's look at this for a minute. republicans have a tricky situation. because the country does not want us to default. and this whole business of managing accounts and prioritizing, there's 80 million payment accounts. i know the interest on the debt will be paid, but to some extent the gop has got to watch itself, robert. they could come
bypassing the debt ceiling -- on congress's behalf. >> democrats are urging the president to use executive order to say congress, i don't node to you raise the debt ceiling, i am going to do it on my own. i want everybody to know,utive order -- high is not the first president and won't be the last to use executive order. frankslinrosis velt passed 37 executive orders and clinton and reagan did 350-plus. i am talking about policy issues of significant magnitude that need to have a full public vetting. the american people need tock engaged in the process. we need hearing on the matter ogun control, specifically. and we really need to talk about mental health and how we as a society are not embracing people with mental health issues. that's a bigger conversation, i know, neil. >> neil: thank you for indulging all of this breaking news and being on top of it. we told you about the mulvaney amendment, matching dollar for dollar, any aide they are getting in like-minded cuts from discretionary spending. that was defeated, as expected on the flor of the house. to missouri running senator roy blun
in the nation today. it's the only path forward. >> president obama nor congress and the debt ceiling? >> i would hope that it wouldn't come to that. but if it has to, then it must. you know, we can't let extremist put us into default and play chicken with the full faith and credit of the united states of america. that's what they are. people talk about this, and i have been watching the last two days -- when i hear that people say let's just go into the fall, i say this person is from another planet. this person is not from this planet are you the notion that we would do that boggles the mind and good common sense of the vast majority of americans. >> what is your perspective on america's melting pot being better reflected in small towns were rural america? what would civic leaders learn from that experience of small-town mayors. >> well, i think we are enriched. i know that i am. my kids have grown up and i tell people, you know, my kids have been in the homes of persians and iranians and armenians and koreans and filipinos and mexicans and italians and greeks and jews and muslims and we
street lower today.. this morning >>> worry over the debt ceiling is keeping wall street lower today. yeah, but it's up a little bit up 20 points at this point with a little over an hour yet in trading. >>> some big anticipation this morning for facebook's big announcement. ceo mark zuckerberg revealed the social network's new search feature. it's called graph search and enables users to search for information about their online acquaintances. for example, it's possible to look among friends of those who live in a particular city and like a specific movie. zuckerberg says graph search is privacy-aware in the sense that users can only search for content that's already been shared. >>> and this is pretty cool. walmart is vowing to hire every veteran who wants a job. walmart projects it could mean hiring more than 100,000 veterans over the next five years. hiring pledge is good for veterans who are within 12 months of leaving active duty. right now walmart employs 1.4 million workers here in the united states. >>> if you haven't gotten it yet you pr
in america. debate over the fiscal cliff, the debate over the debt ceiling and the budget show dunn. all three of these very serious. but which is the most serious. >> the debt ceiling could do damage to our countries for decades to come if we hit it and don't expect the problem. this is the most dangerous thing. this is almost a nuclear option. this is really playing with very dangerous things. and one little mistake could be devastating to our country. >> and yet you still come on day after day and smile with me. thank you. always good to see you. >>> by the way, i just want to remind you if you're doing the math, the treasury says it might come up short in its payments as soon as february 15th. ♪ [ male announcer ] some day, your life will flash before your eyes. make it worth watching. introducing the 2013 lexus ls. an entirely new pursuit. >>> from legend to liar. can i just show you right off the bat what the cover of the new york "post" says today? that's the bracelet you know, but look very closely. it doesn't say livestrong. it says lie strong. according to reports, lance arms
presidents in this country, and there's been a debate, every time, it has come to raising the debt ceiling. because there's a recognition, for years now, that the federal government has been spending way more than it should, way beyond its means, much more than it's actually bringing in. and now, it is -- we cannot continue to kick this can down the road. we've come to the end of the road. it is time for us to stop spending money we don't have. >> former republican speaker newt gingrich is not exactly conflict averse, i think you'd agree, and he has warned the house republicans not to take up this debt ceiling fight. listen. >> asking barack obama not to be a big-spending, high-taxing liberal is a denial of everything that we've learned about him in his career. it's much better for the house republicans to say, this is what we're prepared to do. there are dozens of places you can dramatically change spending without having to get involved in a general crisis over the u.s. debt. >> does he have a point? do you think this is a message from the former speaker that's worth heeding? >> well, we
to the debt ceiling if we -- there's two separate questions here. one -- and there's two separate ideas of is there something to negotiate. one is debt ceiling, and what the president is saying there's no discussion on that. on the government shutdown, there seems to be a different tone from the president. i'll get to that in a minute, but on debt ceiling, you're absolutely right. when you take that sentence, what he was trying to say, because he's not talking about having plan "b"s in his back pocket, things like minting coins, 14th amendment, which senate democrats are begging him to do. he's saying, no, if we default, he wants to make it clear then republicans will have decided not to send out social security checks, not to pay our military, not to do these things, so you're right -- he's hoping that the political blame -- now, the irony here, chris, is senior republican leaders, they agree with the president on that. they know that that's a politically bad place for them to be. the question is it's going to shift to the government funding and shut down going forward, and there talki
in the coming days. today on our show, president obama is readying for a fight on the debt ceiling, or maybe not. will he be able to coax republicans in congress to do something, anything, or will the party of no take a page from its 2011 playbook? we'll dance on the debt ceiling with andrew ross sorkin, ryan grim, steve, and joy reid. plus, telemundo weighs on in immigration reform and whether the gop can get it together. after that, slate's talks about the hurdle of american workers and employees who are cutting hours to avoid paying for employee health care. we'll discuss lance's lies with investigate i sports journalist sell evena roberts. all that when "now" starts in a mere 180 seconds. you peace of mind. unbiased. some brokerage firms are. but way too many aren't. why? because selling their funds makes them more money. which makes you wonder -- isn't that a conflict? go to e-trade. we've g0t over 8,000 mutual funds and not one of them has our name on it. e-trade. less for us. more for you.
to come into washington the week before the debt ceiling is hit and they're going to pressure you to cave. i actually disagree with andrew here. i think that the scenario that mcconnell laid out in that obama is willing to take is a much smarter approach because as of now, raising the debt ceiling, the responsibility for it is diffuse and spread across congress so they can pass blame and pass responsibility around so they might actually not do it. whereas, if the main responsibility is on the president, then whatever party that president is in, he is always going to do it. it would still allow the congress, if they desperately wanted the country to default, by a two-thirds vote, they could override the veto, and they could push the country into default. it still allows him to blow everything up if they are really passionate about it. it takes this off the table, and it does it in a much more rationale way. >> we've learned that as the fiscal cliff showed us, this is all about giving cover to the more raucus members of your caucus, right? this allows john boehner to sort of move forward, p
coming up is the so-called debt ceiling -- something most americans hadn't even heard of before two years ago. i want to be clear about this. the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. these are bills that have already been racked up and we need to pay them. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with this congress about whether or not they should pay the bills they've already racked up. if congressional republicans refuse to pay america's bills on time, social security checks and veterans' benefits will be delayed. we might not be able to pay our troops, or honor our contracts with small business owners. food inspectors, air traffic controllers, specialists who track down loose nuclear material wouldn't get their paychecks. investors around the world will ask if the united states of america is, in fact, a safe bet. markets could go h
was the looming fight over the debt ceiling saying that america is not a dead beat nation. mr. obama installed that he is not willing to negotiate when it's coming to raising the ceiling. if it's not raised, social security checks and benefits for veterans could be delayed. it could be harder to pay your bills now than it was a month ago. that is because uncle sam is taking an extra 2% out of everyone's check for social security. for most people in the bay area, that is about $80 a month or $1,000 a year. >> scott? >> we will do it with the help of mobile apps. now, step one if you have a mobile device. try to avoid the temptation to upgrade. there you saved your 80 dollars a month already. we have apps to show you, most of us is have to drive and spend money on gas. this app is from the yellow pages. it can save you money. helping you find gas stations and ways to change your oil and tires that are close and less expensive than whatever else is around you. lock in your favorites. map them out, save money. another way to save money. grocery shopping, with strategy this can shave you bucks. you
deficit reduction plan. understand that fitch is not just looking for an 11th hour debt ceiling deal that sets the table for another mini crisis down the road. the federal government hit the debt limit as you know on december 31st. the treasury is using so-called extraordinary measures to pay its bills through mid-february or early march. now, fitch predicts washington will extend the debt ceiling despite the current war of words between president obama and republicans in congress. what happens if we get downgraded? it happened before. remember 2011, when standard & poor's did it. that hit markets and the wider economy hard, but it didn't cause interest rates to increase. this time could be different, however, because the rest of the world is getting its act together. even successful businesses like ford are worried. here's what ceo alan mulally told me today. >> i think the most important thing to your point is that we come together around a solution that allows us to live within our means, to reduce our budget deficits, and also to deal with our trade deficits, and create an enviro
as the debt ceiling goes? >> i wish i knew. and i would be happy to tell you if i did but i think there's a choice to be made here. i think they're coming up on a discussion point as you mentioned. retreat later this weekend maybe they will have to decide what the strategy is here. i think republicans have a choice. one to take a stand on the debt ceiling, use that as leverage to try to extract spending cuts out of the white house. or, to not use that because it is a fairly sensitive subject as you've been discussing with market implications. maybe move on to have this showdown over spending, over an actual spending bill, continuing resolution that continues to fund the government which will expire in march. and sequestration, automatic cuts that will kick in about the same time. in other words, is the best tool here to use the debt ceiling or is the best tool to use spending bill and there are a lot of people in leadership who think let's not touch the debt ceiling argument that is toxic. let's focus on spending bills because that is the subject at hand. tracy: especially for the ameri
. >> reporter: the debt ceiling deadline is just one of three budget showdowns the white house and congress face in the coming months. house speaker john boehner said if laws do not tackle the debt and spending at the same time, it will cost americans jobs. in a statement, senate minority leader mitch mcconnell said "the president and his allies need to get serious about spending." danielle nottingham, cbs news, the white house. >>> military suicides have reached record levels. so bad that the secretary of defense calls it an epidemic. the pentagon says there were 349 suicides among active duty personnel last year. that's more than the number of combat deaths in afghanistan. experts say iraq and afghanistan war veterans suffering from depression and post traumatic stress are at the highest risk. >>> secretary of state hillary clinton will testify next week about the deadly attack on the u.s. mission in libya. clinton will appear before the house foreign affairs committee. she had been scheduled to testify last month. that was canceled when she fell and suffered a concuss
the debt ceiling is negotiable, a topic that we will continue to have with two members of congress of the house coming up. republican and democrat. we will speak first with representative scott rigell, a republican from virginia. later on, matthew cartwright, a democrat of pennsylvania. first we will take a little break and then we will come back. [video clip] >> he had been talking about this dream he had. he had talked about it for years, the american dream and that it had become his dream and he had been in detroit just a few months before and he had talked about i have a dream and that america will someday realize these principles in the declaration of independence. so i think he was just inspired by that moment. >> on sunday, clayborne carson recalls his journey as a civil rights activist participating in the 1953 march on washington to a prominent historian and editor of martin luther king jr.'s papers. it's this weekend. debt deal entries with your message to the president are now doing. get them into c-span by this friday for your chance of the grand prize of $5,000. there'
, and coming up. if house republicans really do something crazy with the debt ceiling, will they do that? ezra klein answers that question next. >>> and on the one-month anniversary of the sandy hook elementary school shootings, the nra has released a video. the same group that blamed the violent video games for the massacre in newtown. >>> and scott brown's political future, more observers saying he won't run for senate. and as i said, corey booker, who has announced his intention to run for senator in new jersey. the problem is he may have to run against fellow democrat and current senator franken lautenberg, as far as we can tell, they agree on just about everything. corey booker will answer steve kornacki's questions and will get tonight's last word. ♪ ♪ ♪ hi dad. many years from now, when the subaru is theirs... hey. you missed a spot. ...i'll look back on this day and laugh. love. it's what makes a subaru, a subaru. . >>> so newark mayor cory booker has a problem, he wants to run for senate. the problem is there is currently an incumbent democratic senator in the seat he wants to r
back at 6:00 the president draws a new line in the sand on america's debt ceiling. what happens if the limit isn't lifted? who will feel it first? >> a gun buy back. it's not just weapons they're after. a poll revealing hows&á america feels about gun control. >> and the internet hero who took his life in the middle of a new campaign for social justice, online. stay with us. the ne hmm, it says here that cheerios helps lower cholesterol as part of a heart healthy diet. that's true. ...but you still have to go to the gym. ♪ the one and only, cheerios ...and now... you! [ giggles ] ♪ the one and only, cheerios >>> president obama insists he will not negotiate with white house rinz over the debt keeling and says the full faith and credit of the united states will not be a bargaining chip. abc 7 news mark matthews is here with the challenge that the president is facing on this. >> the president says concept understand.jjw that is not what we found and the challenge facing the president is one that he began to address this morning. president told reporters raising the debt keelin
their criteria that they've set for why they will -- when they will raise the debt ceiling, they are free to go ahead and try. jon: chief congressional correspondent mike emanuel is live on capitol hill now. how are some of the top republicans responding to president obama on this debt ceiling issue? >> reporter: well, jon, republicans are clearly uncomfortable with prominent democrats already talking about a tax increase when you consider the fiscal cliff deal raised taxes and every worker with a payroll tax hiring expiring and raised taxes on upper income americans even further, check your pay stub. a leading republican says responding to the president what's critical is getting spending under control. >> it's a compelling message saying we ned to pay the bills we've racked up. of it messes the whole point again. think of it in terms of a credit card. in you have a son or daughter who exceeds the limit, the first thing you do is rip up the card, the second thing you do is you say you need to change your spending habits. >> reporter: they say we need to a just what bills we are paying and how
you have a much better knowledge of this than most people. but when it comes to using the debt ceiling we had roger altman here earlier this week. his point was why not just use the sequestration which got pushed back to march 1st, use that instead of the debt ceiling so it doesn't sway confidence or concern investors to quite the same extent? >> becky, that's fine. the problem is that was the last deficit increase. the $1.2 trillion is sort of already in the bank. the credit agencies, by the way, assume we're going to make those cuts. so if you're suggesting that we do additional sequestration on the smaller part of the budget, the 38% we talked about, domestic discretionary, i suppose that's one way you could go. but, it ignores the fact that we've got this bigger part of the budget that's more politically sensitive, but has to be dealt with. the biggest part of the budget and the fastest growing part of the budget. it also, the $1.2 trillion is in the bank because of the discussions we had two years ago. >> you think the democrats would not see that as a credible threat? they would
yesterday how has he changed now that he's president and he's been in a couple of these debt ceiling fights with republicans? another one is coming up in march. many people believe it is the only leverage the republicans hold in any kind of discussions about cutting spending. the president changing his tune now. listen to this. >> america cannot afford another debate with this congress about whether or not they should pay the bills they've already racked up. so to even entertain the idea of this happening, of the united states of america not paying its bills, is irresponsible. it's absurd. >>steve: so it was irresponsible for president bush to run up a huge bill. and now that he's president, it's irresponsible if the congress doesn't give him the blank check. let's just point out a couple of things. president bush all by his lonesome racked up about $5 trillion in debt. in eight years. president has racked up $6 four years. so he's better at it. he's a better spending. you guys make the point it's hypocritical to call president bush or call america or call congress irresponsible in 2006, 20
's debt ceiling and the effort to stop mass murderers in america. >> my point is to focus on what makes sense, what works. >> one month after the shooting at newtown it is time to come up with action. >> we to have answers. >> he will announce his specific plan within days. the possible gun proposals and could they actually become law? plus the lance armstrong interview. he's denied he doped for years. >> sick and tired of these allegations. they are absolutely untrue. >> the support gave him the boot. >> lance armstrong has no place in cycling. >> now and for the first time lance armstrong says he's opening up about what really happened. >>> and hundreds of people hunting giant snakes. >> the species of the day is ber mes python. >> i have a machete and side arm. >> man verses python in the florida everglades. >> breaking news with lance armstrong. first president obama still supports an assault weapons ban. he admits it may not make it through congress. the president head a news conference and said the ban is one idea he is considering after a list of recommendations from joe biden. i
for coming in this morning. >> thanks for having me. >> safe bet you're against raising the debt ceiling without spending cuts. >> the problem is the spending cuts never come. the republicans find themselves in the situation all the time t happened with reagan and bush 41 and with the sequester, it's been put off for two months, the spending cuts never come and we cannot continue down this path with over $16 trillion in debt, and a deficit of $1.4 trillion to $1.6 trillion per year. we're spending $1.6 million per year than we're bringing in. >> you've accused the president of using scare tactics. what do you mean by that? do you think he's lying about what could happen? >> the thing is, you know what, first of all it's not congress that determines if we default. it's the treasury so i guess that would be secretary timothy geithner if he's still there. it would be the treasury that would decide but we have enough money to pay the interest on our debt, i believe it's $2.5 trillion comes into the treasury every year. that's enough money to pay the interest on the debt. we're not going to c
to negotiate over the debt ceiling. if he believes that, he's sniffing the ozone. the reality is he has to. he has to come to the table and put something on the table to deal with the other side of just increasing the ability for the government to spend money. he's going to have to talk about the cutting side of this equation. that's the reality for the white house. the reality for the congress is they're going to have to talk about this in the context of revenue, and moving forward, not just on the debt side, but also on the everyday aspects of the social programs. >> michael, you think republicans win on a message that says we're just not going to pay our bills? screw it, we're going to one up our credit cards and we're not going to responsibly come to the table and talk about how we go forward more responsibly. >> we are so far beyond messages. >> it's not a message, it's a fact, we have already spent the money. >> the fact is the president will have to deal. he can't sit in the white house and go woe is me. >> that's not what he's been doing at all. >> he has to put something on the table
off the table? the white house is looking at several measures in the event the debt ceiling might be weakening, find out why a rebound in commodity prices could help to keep the aussie -- dollar strong. >>> and coming up on the program, what will this year bring? we'll be in asia to look at how china's rebound in demand will be key. >>> welcome back to the program. some potentially big deal news, dell has reportedly held recent talks with private equity firms about taking itself private. "the wall street journal" reports ppg and silver lake partners have talked with the company in the past two to three months and could team up on a bid. jpmorgan is reportedly involved in the process. any possible deal would likely emerge within six weeks. dell declined comment on monday after the news was first reported. the pcmaker, of course, has struggled in recent years amid falling prices and demand, shares jumping almost 13% on that news. the stock had been down more than 30% over the past year. >>> heavy losses for apple's asi asi asian suppliers today. south korea's samsung electronics, lg
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